Latest News & VACUL Headlines
- Durbin, Whitehouse, Sanders Join Effort to Revoke OCC Crypto Guidance
August 11, 2022Three prominent Democratic senators joined an effort to eliminate Trump-era regulatory guidance that cleared national banks to explore digital assets and other crypto-related banking activity.
- CFPB Takes Action to Protect the Public from Shoddy Data Security Practices
August 11, 2022The Consumer Financial Protection Bureau (CFPB) confirmed in a circular published today that financial companies may violate federal consumer financial protection law when they fail to safeguard consumer data. The circular provides guidance to consumer protection enforcers, including examples of when firms can be held liable for lax data security protocols.
- What the Update to NCUA’s LID Workbook Could Mean for Your CU
August 11, 2022NCUA regulations state that to both attain and retain a LID, more than 50% of a credit union’s membership must reside in a low-income area, so even the smallest variations in the data can play a big role in eligibility.
- Has Inflation Peaked? Here's What the Experts Are Saying
August 11, 2022Inflation decelerated by more than expected in July, but that doesn't mean our era of fast-rising prices – or Fed rate hikes – is over.
- Inflation Falls in July, But Housing Prices Keep Rising
August 11, 2022After rising to its highest level in 40 years in June, inflation dropped slightly in July. Thanks to a decrease in the gasoline index the Consumer Price Index (CPI) remained unchanged from the month prior, after hitting a 1.3% seasonally adjusted rate in June, according to data released Wednesday by the Bureau of Labor Statistics. Year over year, the CPI for all items rose 8.5% in July, down from the 9.1% yearly increase reported a month ago.
- Consumer Lenders See Unexpected Bonanza as People Battle Inflation
August 11, 2022Demand for consumer credit surges as the impact of interest rate increases and inflation hikes people's cost of living. One-in-three personal loan borrowers say they need the money to supplement lost income, which raises the question of a 'debt hangover' to come.
- ‘Protect My Card’ Campaign Pushes Back Against Interchange Bill
August 10, 2022CUNA launched its “Protect My Card” Member Activation Program campaign to activate credit union members to share concerns with the interchange bill introduced by Sens. Roger Marshall, R-Kan., and Dick Durbin, D-Ill. Your League has issued a call-to-action to get our credit union professionals, offcials and members engaged!
- CUs, League Meet with Congressman Cline
August 10, 2022Yesterday, representatives from five credit unions and your League traveled to Staunton to meet with Rep. Ben Cline (R-6).
- New U.S. Crackdown Has Crypto Users Worried About Their Privacy
August 10, 2022The battle between the crypto community and the U.S. government over financial privacy just escalated dramatically, amid government efforts to crack down on criminals.
- Ginnie Mae Recognizes Credit Unions as Regulated Depositories
August 9, 2022Ginnie Mae (GNMA) recently issued an All Participant Memorandum (APM) announcing the amendment of its MBS Guide to recognize that credit unions are regulated depositories and not non-banks. Your League advocated for this change.